ATOME PLC Initiates Dispute with Paraguay Under Bilateral Investment Treaty

ATOME PLC, a UK-based low-carbon fertiliser developer, has served a Notice of Dispute to the Republic of Paraguay concerning its Villeta Project. This move follows alleged breaches of the UK-Paraguay Bilateral Investment Treaty. The Villeta Project, representing a US$665 million investment, is the largest foreign industrial venture in Paraguay's history. It aims to position Paraguay as a leader in green fertiliser production.

The dispute centers on the revocation of Presidential Decrees that supported the project's power purchase agreement (PPA). ATOME is seeking an amicable resolution but is prepared to pursue arbitration at the International Centre for Settlement of Investment Disputes in Washington D.C. if unresolved in three months.

The UK's government and several international embassies have been informed of this development. ATOME stresses its commitment to protecting shareholder interests while promoting industrial growth and job creation in Paraguay.